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Sport Ministry's $63 mln dispute with lottery operator to be heard on December 23

11:37 14/12/2011

MOSCOW, December 14 - RAPSI, Dmitry Shchitov. A commercial court postponed on Wednesday until December 23 its hearing of the Sport Ministry's claim against the Orglot lottery operator for $62.3 million, the Russian Legal Information Agency (RAPSI/rapsinews.com) reports from the courtroom.

The dispute centers on a state contract signed on November 22, 2006, for an online all-Russia lottery.

The court postponed the case to allow the parties time to submit some additional documents.

The sports authority established Gosloto lottery in 2006 and chose Orglot as its operator. Under the contract no less than 50 percent of its income Orglot shall pay into the prize pool, 15 percent - to finance the 2006-2015 physical culture and sport development program.

The lottery paid into the budget over 2 billion rubles ($63 million) in 2006 2010. The funds were spent to build over 200 sports facilities in 39 regions over that period. Plans are to construct 4,000 sports facilities by 2015.

In July 2010 Audit Chamber stated that it deems the sports authority had overestimated the 26.9 billion ruble ($849 million) proceeds from the Gosloto Lottery earmarked for the program. In chamber's view such income is economically unreasonable.

Gazprombank was Orglot's founder, but withdrew from the business in 2007.

Some 51 percent stake in the company was then purchased by Sandor Demjan, the president of Hungary's TriGranit. Owners of the other stakes in the company have not been disclosed

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Sport Ministry's $63 mln dispute with lottery operator to be heard on December 23

11:37 14/12/2011 A commercial court postponed on Wednesday until December 23 its hearing of the Sport Ministry's claim against the Orglot lottery operator for $62.3 million
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